Africa Monitor

Africa Monitor Intelligence

Mozambique: State May Resume Payments to Proindicus, MAM and Ematum Creditors

The Mozambican State may have to take responsibility for the debts of the three companies that gave rise to the "hidden debts" case - ProIndicus, Mozambique Asset Management (MAM) and EMATUM - creating a new scenario of legal uncertainty regarding the legality of the State´s role in the process.

The respective creditors and suppliers of the three companies have now been informed that they have one month to notify the companies of any outstanding debts, 18 months after the court decision to dissolve them, as a result of a case that involved credits and commissions to intermediaries of over USD 2.2 billion. READ MORE